BSE: 512479
VIRYA RESOURCES LIMITED
Reports zero revenue from operations in FY26, with a standalone loss before tax of Rs 28.20 lakhs widening from Rs 16.85 lakhs the prior year, and consolidated loss of Rs 28.23 lakhs. Operates in a single reportable segment described internally as 'Software Sector' and holds a 99.99% stake in Indonesian subsidiary PT Virya Resources Indonesia. Total assets stand at Rs 6.85 crore against a net worth of Rs 5.16 crore as of December 2025. In February 2026, it signed a 3-year Management and Strategic Partnership Agreement with its Singapore-based ultimate holding company Magma Capital Resources Pte Ltd (MCR), under which it will act as Lead Manager for specified MCR Group businesses and is entitled to 51% of the Net Operating Margin from those managed businesses — no revenue has yet been recorded under this arrangement. Quarterly operating costs come in at Rs 4.33 lakhs in Q2 FY26 standalone, with standalone cash on hand nearly depleted at Rs 0.24 lakhs and Rs 58.29 lakhs of new long-term borrowings taken on during the year. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Lead Management services for MCR Group businesses, Software Sector. Small, low-activity BSE-listed entity with no operating revenue and a recently signed related-party management services agreement
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 0 | 0 |
| EBITDA (ex other income) | (0) | (0) |
| margin % | — | — |
| Owners' profit | (0) | (0) |
| EPS, as reported (₹) | 0.00 | (1.88) |
| ROE % · ROCE % | (3.1) · (3.1) | (5.4) · (4.7) |
| Debt / equity (x) | 0.13 | 0.15 |
| Cash from operations | (1) | (0) |
| Capex | 0 | 0 |
Exhibit 2: Quarterly performance, last 7 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | (0) | (0) | (0) | (0) | (0) | (0) |
| Net profit | 0 | (0) | (0) | (0) | (0) | (0) | (0) |
| EPS (₹) | (0.52) | (0.27) | 0.00 | (0.71) | (0.29) | (0.33) | (0.56) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KESAR INDIA LIMITED | 3,089 | 82.0 | 12.40 | 67.0 | 12.0 | 15.2 | — | 26.9 |
| MEGHNA INFRACON INFRA L | 1,460 | 215.4 | 54.28 | 143.3 | 20.8 | 33.9 | — | 15.3 |
| India Homes Limited | 1,015 | — | 27.41 | — | (31.0) | (17.8) | — | — |
| B-RIGHT REALESTATE LIMITED | 954 | 26.6 | — | — | — | 19.2 | — | — |
| SHRADDHA PRIME PROJECTS L | 666 | 11.9 | 4.88 | 11.3 | 39.1 | 20.2 | — | 16.1 |
| YOGI LTD. | 656 | 31.5 | 4.61 | 25.6 | 14.9 | 15.6 | — | 5.1 |
| HAZOOR MULTI PROJECTS LTD | 409 | 5.5 | 0.66 | 3.1 | 6.8 | 5.8 | — | 86.5 |
| RDB INFRASTRUCTURE AND POWER L | 340 | 17.3 | 1.28 | 21.5 | 4.7 | 5.7 | 16.3 | 23.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 20.0 | 1.1 | 67 of 70 | 4% |
| ROCE | (4.7) | 1.9 | 77 of 88 | 13% |
| ROE | (5.4) | 1.6 | 62 of 73 | 15% |
| Debt / Equity | 0.1 | 0.3 | 32 of 73 | 57% |
| Profit growth | 41.9 | (48.8) | 19 of 79 | 77% |
| Market cap | 105 | 30 | 21 of 88 | 77% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 21 Oct 2026 · No securities processed in September 2026 quarter | compliance | minimal | — | — |
| 1 Oct 2026 · 40th AGM voting results: all 3 resolutions passed with 99.999% majority | board shareholder meetings | low | — | — |
| 1 Oct 2026 · AGM voting results: all 3 resolutions passed with 99.999% support | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Virya Resources appoints CS Krish Amish Shah as Company Secretary | management changes | medium | — | — |
| 29 Sept 2026 · Virya Resources 40th AGM: FY26 accounts adopted, director changes | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Virya Resources 40th AGM held on Sept 29, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 29 Sept 2026 · 31st AGM of Sriven Multi-Tech held on Sept 29, 2026 | board shareholder meetings | low | — | — |
| 27 Sept 2026 · Trading Window Closure Ahead of September Quarter Results | compliance | minimal | — | — |
| 9 Sept 2026 · Virya Resources 40th AGM notice and annual report FY26 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Virya Resources submits 40th Annual Report, AGM on Sep 29 | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.